Greeks were forced to work two more days in 2024, compared to a year earlier, in order to manage to pay their increased obligations to the State.
Based on the study by the Center for Liberal Studies (KEFIM), Greeks worked 179 days for the state, i.e. two days more than in 2023.
Higher revenue for the state
According to the latest estimate, the state’s revenue from taxes and other levies was increased by 5.2% in 2024 compared to the initial forecast of the 2024 budget. Revenue from direct taxes also recorded the largest increase, by 10.3% or 2.5 billion euros.
However, KEFIM pointed out that “the tax burden on citizens remains constant,” that is, indirectly but clearly it suggests that the two additional working days do not essentially reflect an increase in the tax burden.
The method
The Tax Freedom Day study published every year by the Center for Liberal Studies calculates the day when Greek taxpayers would be freed from the burden of taxes, if with the money they earned from their work they had to first repay their obligations to the state before covering their own needs.
In the first phase, an attempt is made to estimate the Tax Freedom Day, based on budget forecasts, and then, based on ELSTAT’s annual figures, a more accurate estimate is made ex post based on the actual execution of the budget.
On his part, the General Director of KEFIM Nicos Rompapas underlined that “despite the tax reductions, the tax burden remains stable in Greece, which demonstrates that there is still significant scope for policies that will further ease the burden on households and businesses and enhance growth, job creation and general well-being.”
